Regulation/Legislation

The National Association of Insurance Commissioners announced late Friday that its CEO, Therese M. (Terri) Vaughan, would be leaving earlier than expected, on Nov. 30 rather than in 2013's first quarter, and that Andrew Beal would become acting CEO until a leader is hired.

Europe's insurers may get a single supervisor, mirroring a plan to centralize banking regulation under the European Central Bank, the head of the EU's insurance rule-making body said on Tuesday.

The more than 100 homeowners who lost their homes to a fire after Superstorm Sandy struck Queens, N.Y. may be denied coverage because of anti-concurrent-causation clauses in homeowners policies, a consumer group warns, although an industry representative says claims in the area are currently being settled.

Five Republican governors rejected on Friday a major provision of President Barack Obama's healthcare reform law that calls on U.S. states to set up online health insurance markets where consumers can purchase private coverage at federally subsidized rates.

The Obama administration will ask Congress to raise the National Flood Insurance Programs borrowing authority to $25 billion, according to sources.

Members of the Senate Banking Committee and a property and casualty trade group took issue Wednesday with new international capital standards that U.S. regulators are considering for regulating systemically significant insurance companies as well as insurers that operate savings and loans.